The transition of a practice due to a “triggering event” (e.g., death, mental or physical disability, other unforeseen circumstances, or even retirement) requires thoughtful preparation to ensure the continued representation of clients; the preservation of the firm value; compliance with professional responsibilities; and protection of an attorney’s assets, heirs and other dependents. Small law firms and solo practitioners often have limited staff and resources and a “triggering event” can have a profound impact.  Are you prepared?  Have you considered the time and expenses involved in transitioning your firm? Do you have the financial resources in place for such an event?

The Law Practice Succession/Exit Planning Guide is designed to assist small law firms and solo practitioners in developing comprehensive succession plans that address practical, ethical, and financial considerations. By implementing a well-structured plan, attorneys can promote continuity of service, safeguard client interests, uphold the standards of professionalism, and protect those dependent upon them.